Guideline Value for Nethaji Nagar

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Sriperumbudur A village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nethaji Nagar has changed

The guideline value for Nethaji Nagar has seen several revisions over the years. The 2017 revision recorded a value of Rs 804 per sq.ft. This figure remained unchanged through the 2023 revision, which also recorded Rs 1,200 per sq.ft. The latest 2024 revision maintains this value, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 49%, reflecting a steady valuation since 2023.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Nethaji Nagar's value above this median.

• Nehru Street: Rs 700 per sq.ft (2024)
• New Ramanujar Nagar: Rs 1,800 per sq.ft (2024)
• N.G.O. colony: Rs 1,200 per sq.ft (2024)
• N.G.O. Colony IIIrd Street: Rs 1,200 per sq.ft (2024)
• N.G.O. Colony IInd street: Rs 1,200 per sq.ft (2024)
• N.G.O. Colony Ist street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nethaji Nagar?

Nethaji Nagar falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sriperumbudur A

The guideline value is a crucial factor during the registration of property transactions in Sriperumbudur A. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and fees based on this valuation.

When buying or selling property, the guideline value helps establish a fair price for the transaction, as it serves as a benchmark for both buyers and sellers. It is essential to consider this value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nethaji Nagar?

The current guideline value of Nethaji Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2023 to 2024. However, it increased by 49% from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023.

What is the classification of land in Nethaji Nagar?

Nethaji Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Nethaji Nagar?

The Sub Registrar Office covering Nethaji Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Nethaji Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at Rs 1,200 per sq.ft would incur a stamp duty of Rs 84,000.